PH BoP surplus exceeds $1 billion

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  • Posted: October 19, 2013

The Philippines' Balance of Payments (BoP) surplus exceeded $1billion last July, an indicator of the country's solid fundamentals according to the central bank. 

July's result was $1.099 billion, the highest in six months.  The figure is also higher than the $692 million posted last June.  Six months ago, the year opened with a $2.043 billion in BoP surplus. 

Last July's figures contributed to the year-to-date surplus that's now at $3.677 billion.  Bangko Sentral ng Pilipinas (BSP) projected a $4.4-billion surplus for this year. 

Balance of Payments shows the overall transactions of the country with other countries.  There is a surplus when more funds flow into the country than out.  This helps cushion the blow of external volatility. 

In a report published in Business World, central bank Deputy Governor Diwa C.  Guinigundo said that the BoP surplus can serve as support to the economy.